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The Real Deal NYC

Long Island Cheat Sheet: New proposals sought for Nassau Coliseum area redevelopment … & more

New proposals sought for Nassau Coliseum area redevelopment Nassau County Executive Laura Curran’s decision not to reassign a lease on 11 acres to Blumfield Development Group has once again thrown the development of the area around the Nassau Coliseum into question. The Syosset-based firm had lobbied Curran to allow them to build an “arena district” — with entertainment, retail along with offices and housing — on the property. Curran has said that she hopes to bring a big […]

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These are the industry players cited in the massive NYT housing investigation

The New York Times released a sprawling, three-part investigation about the rental market in New York City over the weekend, with in-depth reporting on the fragile condition of the city’s rent laws, how landlords exploit them and how government agencies fail to protect tenants. And in doing so, the Times shined a light on a handful of landlords who are allegedly part of that problem, some already notorious and others with little name recognition. While […]

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Slate, GreenOak nearing $250M-plus deal for the Biltmore

Slate Property Group and GreenOak Real Estate are in late-stage talks to buy the Biltmore rental tower in Midtown for north of $250 million, sources told The Real Deal. The partners are close to signing a contract to buy the 464-unit rental building at 271 West 47th Street from the Jack Parker Corporation, according to sources familiar with the negotiations. The 52-story tower is part of the seven-property, mixed-use portfolio that Jack Parker put on […]

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NYC’s multifamily dollar volume in March hit highest level since 2016

New York’s multifamily market had its strongest month in more than a year in March, with large-scale Manhattan sales pushing dollar volume to more than $1 billion. This was the first time that dollar volume hit more than $1 billion in 2018 and the highest total for one month since December 2016, when dollar volume reached about $2.3 billion, according to Ariel Property Advisors. The high dollar volume was largely due to a strong month […]

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What the Carolina Panthers’ record $2B sale means for local real estate

Billionaire David Tepper’s purchase of the Carolina Panthers is a record-breaking deal for the NFL, but the new ownership, which won’t be official until July, is already ruffling local feathers. The team’s previous owner, Jerry Richardson, had a deal with the city of Charlotte that the local government would contribute $75 million to renovating the Panthers’ stadium so long as the team stayed in the city past 2023, but now lawmakers are wondering whether Tepper […]

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Lucky Dragon hotel and casino is searching for a buyer as its prepares for onslaught of guests

If you’re headed to RECon 2018, you can try to find a room at Lucky Dragon, but move fast because rooms are still selling out despite the hotel’s bankruptcy proceedings. Developer Andrew Fonfa is trying to sell the distressed boutique hotel and casino after filing for Chapter 11 bankruptcy in April, and claims to have found some interested investors from Asia. Until a deal is inked, restaurants and the casino floor in the property remain […]

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Guess how much cash co-living startups have raised in the past year

Does $78 million surprise you? That’s what a handful of co-living and short-term rental startups between New York and San Francisco have raised in funding rounds over the past year, according to TechCrunch–and it’s not an exhaustive list. (For example, Common’s infusion of $40 million from a funding round, first reported by The Real Deal late last year, was not included.) It would likely surprise many people as co-living has been branded a dorm-style environment […]

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Here’s how much the world’s billionaires park in real estate

Property investment ticked up last year among the global elite, according to a census of the ultra-wealthy. Of the world’s 7.6 billion people, 2,754 of them are billionaires who have cumulatively amassed $9.2 trillion worth of assets, according to Wealth-X’s annual census, and about 3 percent of that wealth is parked in real estate and other luxury goods. Last year, billionaires’ average wealth in real estate and other luxury assets only valued a total of […]

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The number of women billionaires are growing faster than their male counterparts

Though men still make up the lion’s share of the global population of ultra-wealthy, an increasing number of women are joining their ranks. As of this year, 321 women responded to Wealth-X’s annual billionaire survey saying their holdings were over $1 billion–a 18 percent increased compared to the 2017 results. By comparison, the number of male billionaires increased by 14.5 percent, 0.4 percentage points lower than the 2017 survey. The total population of high-worth men […]

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Luxury markets have officially recovered from 2016

Luxury housing markets are rebounding and then some. According to Mansion Global, in Christie’s International Real Estate’s annual rankings luxury sales in 80 markets around the world increased by 11 percent in 2017, compared to a 1 percent increase in 2016–a year marred with political and economic uncertainty across the board, as Christie’s described it. New York, Hong Kong and London are still the all-mighty triumvirate of pricey urban real estate, however second-home markets’ prices […]

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